Vivendi Bleeding Blizzard: What Does It All Mean?

Vivendi Plans Talks Today About Special Dividend From Activision Blizzard

Newspapers and websites are abuzz with news of Vivendi and its plans to extract an insane amount of money from Activision Blizzard. The sum will turn out to be more than A/B actually has and will throw the gaming company into debt. We at GAMEBREAKER seek to better understand the implications of the potential money drain by first looking at the facts and then inviting readers to chime in with your thoughts. 

Vivendi SA, a French media conglomerate, may ask for $3 Billion from Activision Blizzard. In today’s Vivendi board meeting a move to extract the money will be discussed. The Wall Street Journal reported that about $2 Billion of that sum would be used to help with high debt that Vivendi has accrued.

After today’s meeting, it is assumed that the Vivendi board members will press for approval at a regular Activision Blizzard meeting on Thursday. Reuters reports that six of the eleven A/B board members are from Vivendi. Sources at WSJ say that because most of A/B’s money is located in offshore accounts, the company will go into debt if asked to hand over the large sum.

Activision Blizzard is a very successful company, and has just over $4 Billion in its accounts, much of it kept in off-shore. The gaming company has done well for itself by focusing on big titles and not spreading itself out to mobile and free-to-play games. They would need to go into debt in order to meet the special dividend that will be put forth by Vivendi because of US taxes that will come into play when the money changes hands. Current estimates as to the amount of debt that A/B will be forced to take on sits at about $1.5 Billion.

Vivendi has accrued over $17 Billion in debt, which was the result of poor business strategies involving telecoms. The original agreement with Activision Blizzard stated that the parent company could not require special dividends from A/B, but that deal expired earlier this month. Vivendi is wasting no time taking everything it can from the game company.

Although Activision CEO Bobby Kotick seems interested in buying the company back from Vivendi, that hasn’t happened yet. Vivendi has already tried selling off the company, but it didn’t seem there was an interested party who had the cash on hand to buy the world’s largest game publisher. At this point, is no reason why the special dividend put forth by the parent company won’t go through.

What Does It All Mean?

Even with the incoming dramatic drain of cash, Activision Blizzard is still sitting in a very good position. The company boasts some of the industry’s biggest and most successful titles and the future looks great as the new PlayStation 4 and Xbox One loom on the horizon.

Until now Vivendi has maintained a hands-off approach when it comes to A/B, but the cash drain could be the first sign of a major change in that policy. Once Activision Blizzard is thrown into substantial debt by Vivendi, it is unclear what we as consumers can expect. Could smaller, cheaper titles be on the way to help balance the budget? Perhaps Blizzard will offer more hats? It’s possible that layoffs could ensue that might affect customer service or even the level of development that we have come to expect in their games. 

Whatever your thoughts on Activision Blizzard, this much is true: The wildly successful company has made very good business decisions and is about to go into debt because its parent company made poor business decisions…unless you count the one where they bought Activision Blizzard in the first place. 

So what do you think? Will we see the effects of this substantial money extraction? 

  • Parkway

    Cash shop probably wasn’t introduced as an accident.

    • Dularr

      Cash shop been around for awhile. The Hats who knows, probably busy work for the Titan developers.

  • mikey

    Well If they own it, It would be unrealistic to assume they would never touch the money or the company that is making it. Only a matter of time before the whole cannablizing down the later would start.

  • Jason Jenkins

    If there was anything that would make me want to unsub from wow..besides my on again off again boredom with the game…this would be it, sub based games tend to “lose” their unsub buttons when money problems start and my unsub clicking finger has been itching sense I first heard of this awhile back.

  • Miljan Stanojevic

    new hat prices…50$

    • Dularr

      No, $50 would be for cash shop shoulders. You know folks will buy those.

  • Nick Chadwick

    I don’t know about anyone else, but I’m behind Blizz on this. I will keep my sub active as much as I can, and when I have some extra cash pick my wife up something from the pet store. They have provided me entertainment for so many years, I would hate for something like this to mess it all up :

  • Dularr

    Activision Blizzard is sitting on about 4 billion in cash, mainly stored in off shore accounts. Very difficult to bring back into the country without a huge tax bill.

    Looks like Vevendi need to pay back part of a 17 billion in debt, or face a credit downgrade.

    Hopefully Activision can pull off a buyout of Vevendi, possible taking the company private. Of course this would cause a crap storm of its own if Blizzard no longer reported sub numbers, because it was a private company.

  • Luccas.Faun

    I have no problem supporting game developers and companies that provide value for their customers. However this is beyond pathetic to ask loyal fans to hand over hard earned cash to line to pockets of a few “fat cats” who where born with silver spoons in their mouths to begin with and “need cash” cuz they suck at running companies and making business decisions. No THX!

    • Dularr

      Nah, this is all about paying off debts. Bolster the stock price is about increasing executive bonuses, and taking on new debt typically does not increase stock prices. If anything the special dividend will low the stock price and hit Bobby Kotick in the pocketbook. But, I’m sure he will survive.

  • John Fireraven Barnett

    This is some of the most depressing news ever. I’ve fallen out of love with WoW, but their other titles are still great, Diablo 3 excluded. This is effectively a huge let down. In other news regular Yahoo readers may note that the “Motley Fool” is telling everyone to buy, buy, buy Activision Blizzard stocks because they are “the only game company that can survive the upcoming gamepocalypse.” Yeah… Trying to sell off their shares before the crash is more like it.

    • Dularr

      Yeah, even with the new debt, it would still have 4 Billion dollars in cash.

      • John Fireraven Barnett

        No, they only have 4 billion at present. The debt would be tacked on after taking all off that.

        • Dularr

          No, While they would still have the 4 billion in cash in the off shore accounts. Activision Blizzard would take on 3 billion in new debt to pay the special dividend.

          Accounting, the 4 billion in the off shore account would be off set by the 3 billion in new debt. Unless there are other accounting rules.

          • John Fireraven Barnett

            There is also the deal with them wanting to get 5 billion off of them. At any rate the 4 billion isn’t after taking on the debt, that’s their total funds, “much of which is held offshore.” According to the article, “Current estimates to the amount of debt that A/B will be forced to take on sits at about $1.5 Billion.” That means that they would have an estimated 2.5 billion left, and this is before Vivendi tries to force all of its stock back onto Activision Blizzard, which would bankrupt them.

          • John Fireraven Barnett

            Also as the article clearly says at the beginning, “The sum will turn out to be more than A/B actually has and will throw the gaming company into debt.” Meaning that the debt is after they’ll be bankrupted by Vivendi, not before.

  • Gambles

    Holy Karma Batman!

  • Kichwas

    Capitalism 101: hook smaller but more agile fish, wait till they get bloated, and devourer them.

    Vivendi is gutting its golden goose to put food on the table, because they’ve ruined everything else they touched.

    With
    the hands off deal now expired, you can expect this to not just
    continue, but get worse. They’ll start putting in pointy-haired bosses
    who have ‘clout’ so those people can get golden parachutes and retire in
    style while the rest of the ship sinks around them.

    The same choices that ruined the rest of Vivendi will now begin to filter in and poison the waters at Blizzard.

    I’ve
    long expected that the only thing that could kill WoW would be WoW –
    but never did I expect that that would happen in this manner, nor this
    soon. Granted it hasn’t happened, but this is what I would call a
    pivotal moment. When we look back a few years from now – this will be
    the point in time most clearly visible as the turning point.

    • BitterClingerDE

      A/B isn’t going into debt because of capitalism. They have $4 billion in offshore accounts because it was earned offshore. The U.S. has one of the highest corporate tax rates (~35%) in the world. So, Vivendi wants to pay it’s shareholders (all the poor working class folks and union members that have pensions and 401K accounts) a dividend, which is a growing trend. Activision’s share of this dividend is $3 billion. If they just transfer $3 billion to their US account, that will be taxed at 35%, leaving them with less than $2 billion for Vivendi. So, they must transfer all $4 billion to US accounts, pay our caring and competent government $1.4 billion for the privilege of creating jobs and economic growth for the last ten years, then make good on it’s $3 billion commitment… HOLD ON! They only have $2.6 billion left after taxes! They need a loan in order to pay the robber barons in D.C., not because Vivendi is screwing them out of something.

      • theunwarshed

        And how much tax does a single man pay in the U.S.? Since corporations essentially have been granted personhood under the law, why shouldn’t they be taxed the same? They also get more tax write-offs then your average single man does. I have zero sympathy in regards to poor corporations being taxed heavily. If your beef is with taxation in the U.S. in general, across the board, then I’m with you.

  • kozmial

    wait I dont get why A/B cares at all about giving money to Vivendi. How is vivendi getting this money from them and why is A/B willing to give it? Shouldnt they not care?

    • Bread256

      Because Vivendi owns Activision Blizzard, and the deal preventing Vivendi from acquiring special dividends from Activision Blizzard expired. Did you even read the article?

  • Michael Allen

    Full Heroic Tier set in the cash shop soon.

  • BrinkX182

    a/b needs to find a way to break away from Vive and fast any company that gets that much debt isnt worth anyones time

    • Dularr

      Activision Blizzard really should buyout Vivendi, but Vivendi is probably too greedy and stubborn right now.

      Recently, Vivendi rejected a Japanese phone company’s $8.5 Billion offer for the Universal Music Group.

      • Sally Bowls

        You are missing the simplest solution. V owns about 10b of AB stock, giving them 61%. AB has billions of cash, could borrow more; if they could have purchased enough of their stock from V, they could have avoided this. V was up front about trying to sell their AB stock; the dividend was Plan B after not being able to find a buyer for the stock.

  • Kelly Michaels

    Good things happen to bad companies. No sympathy for A/B. After the D3 garbage and the same ole CoD crap they produce each year, let them fall upon hard times. Hiding their money in offshore to keep from paying US taxes, smart move, but I guess they will cry out to Obama and the American public to bail them out.

    • Dularr

      Nice, so you are wishing bad things to the people that work there. karma.

      • Kelly Michaels

        Karma exactly, they sell their loyal fan base crap products, so yes, karma is about to bite them in the ass

        • oliviaisasexsymbol

          STFU you whale.

          • Kelly Michaels

            LOL cry me a river, you’re just mad because your beloved company is circling the crapper

        • Brandon

          karma can also work against you too. wishing and hoping blizzard shuts down and ton of people will then be jobless which could turn to bad karma for you. Try to be more considerate of the fact that this is harsh economic time (which is hopefully getting better) and there are ppl who needs the job they have to feed their family.

      • Kelly Michaels

        Blizzard should have never allowed themselves to be put into a position they are in now. As far as Activision goes, they were great back in the good old days of Atari 2600, but I guess you’re not old enough to know them from their upstart days.

      • Kelly Michaels

        Also, my POV is that they should get no help and or protection from the US government of the people of the US like GM did as an example. Hey, they didn’t want to pay US taxes on their cash, so they hid it offshore, so why should they get any form of help from the US, IF they ask for it now. Why should you even care, if you fall upon hard times, A/B isn’t gonna help you or GAF about you.

      • Kevyne-Shandris

        It’s not wishing bad things per se, but it’s hoping that teaching Blizzard a valuable lesson pays off in the end.

        Blizzard HQ has gotten w-a-y too arrogant and lost touch with it’s player base since WotLK. With so many Vivendi suits on the Activision-Blizzard board, no one can say Blizzard was allowed to be as independent as their soothsaying white knight defenders want to claim.

        It’s time to turn a new leaf.

  • C4darkmane

    Blizzard need to find a way to break away again…… it could be down hill from here, perhaps we will never get project Titan…..
    “This is the end
    Beautiful friend
    This is the end
    My only friend, the end
    Of our elaborate plans, the end
    Of everything that stands, the end
    No safety or surprise, the end”

    • Kelly Michaels

      Excellent choice of words, comment of the year for you !!!
      The Doors “The End”

      • C4darkmane

        compliment of the year from you, Hi5

    • Dularr

      Except Blizzard has never broken away from anybody. But, let’s hope they can breakaway from Vivendi.

      • C4darkmane

        yer sorry, dont know why i put the again bit in…. oops

    • Luke Malcolm

      Blizzard would be better off with Activision than on there own. I know it sucks but it has to be that way.

  • Awtobot

    The “hats” as you call them were datamined quite some time ago. So, no, the cash shop isn’t part of a conspiracy that exists only in your minds.

  • Steven Drury

    Good thing we’re getting a cash shop soon :D

  • Kagitaar

    Sigh, more half understood information. First, Activision-Blizzard is the holding company and Activision, Blizzard, Infinity Ward, etc are subsidiaries of it. The holding company has the cash and it has to pay if the dividend is called. This is not taking operating funds from the subsidiaries, it will be taking their spare cash held by the holding company used for quick acquisitions. Only about half of the cash is offshore, so only that portion would be taxed if they chose to use it instead of borrowing some to finish off the dividend.

    For that matter, debt is not a bad thing in business, it’s part of normal operations. For a personal example, as long as you can pay off your credit card in a reasonable way, using it is not going to ruin you financially.

    • Targeter

      Amen. Thank you for saying this before I had to rage all over the place. This move by Vivendi was long expected and forecasted for by most credible outlets. This is not a surprise in the least.

      • oliviaisasexsymbol

        But, of course, being the terrible news outlet GBTV is, they have to spin it like it’s Y2K.

        • Kagitaar

          I’ve tried to help the writers get better in the past, but they stubbornly wish to write for tabloids instead of news articles.

    • C4darkmane

      still that cash couldstill be used to fund projects, patch holes around the company

      • Targeter

        That’s not how it works at all. This is not money that could directly used by Blizzard; these are monies tied up on offshore and onshore accounts held by the holding company itself. If anything, like Kagi said, this cash would have been used in acquisitions and sales, nothing else.

        • Kurt Schafer

          Somewhat true. However, if the holding company has to entertain debt in order to move monies up into Vivendi, it will need to service that debt.

          The holding company will then be motivated to move cash from the subsidiaries into the holdco on a regular basis.

          It’s not a given that the Blizzard subsidiary will be forced to carry all (or any) of that debt service obligation, but it is a possibility.

          • Targeter

            That’s true … I hadn’t completely thought it through!

          • Kagitaar

            Well Blizzard itself can’t carry the debt, but it is possible, though extremely unlikely for them to be squeezed for a larger contribution if it comes to that.

    • InvaderMig

      Perhaps your comment should just be the article. It seems to have more pertinent information and might quell the flood of doomsday fears in just about every comment below yours. Well done sir.

    • Luke Malcolm

      Thank You Kagitaar, for the excellent Summary :)

  • Kristin Gale

    Vivendi should have accepted offers and sold some of its subsidiaries to pay off its outrageous debt. I would be horrified if I was the CFO of Vivendi. $17 million in debt is a disgrace.

    • Sally Bowls

      It’s Billion not million ofc.

      This is not the site for finance discussions but there is nothing wrong with debt per se. A public company’s cost of capital is almost always reduced by having some debt. Borrowing money to invest in things that generate more than enough profit to pay the debt is good.

      Borrowing money to do dumb diversifications and losing billions of dollars is what Vivendi should be embarrassed about. Remember Vivendi was a water utility founded in 1853 under Napoleon III that did all sorts of “dot com” diversification starting at the end of the last millennium.

      • Ravenstorm

        You sure know a lot about Vivendi.

        • Sally Bowls

          Sorry.

          Everyone can have an opinion I certainly am not trying to stop any opinion. Obviously Gamebreaker is financed by ads so wants lots of discussion.

          Vivendi sure seems like a poorly run company and I don’t particularly care what happens to them. I hope I have never given any indication I thought they were a good or well run company. They probably “deserve” to go bankrupt.

          I just get frustrated that people seem to have a very different view of property rights and very little understanding of finance.

          Activision-Blizzard sold out for $10billion and now it’s time to pay the piper. Vivendi owns them.

          And if I had the misfortune to be a Vivendi shareholder, this would seem like a less-bad outcome than alternatives. Would this transaction be bad for AB customers and employees? idk but probably. But the management of Vivendi get paid to benefit Vivendi shareholders.

    • Kingmob23

      17 million for a company that size isn’t too bad; 17 billion on the other hand is a different story.

      • Kristin Gale

        Right, billion. My mistake. :)

  • Sapien

    Now this explains the prices of the hats, and im pretty sure it will continue that way with gear etc.. – But ofc ..Only the future will tell.

  • Kharon

    Here is another issue…even if they recover from this cash siphon Viv can turn around and do it again and again.

    • Kevyne-Shandris

      Which is why they need to depart from Vivendi. If anyone remembers the F.E.A.R. franchise, they can see what this company did with publishers like Sierra, too.

      Don’t ever invite them to your board, as they know how to ruin products and companies inside out.

  • LegionsUnleashed

    A/B work their behinds off to be as successful as they are today and the father company obviously didnt do good business and now they want the money from the successful A/B to cover their own mistakes. i call it BS.

    No wonder Blizz is expanding the item store to an in game cash shop. To milk the players while Vivendi milks them. :(

    • Sally Bowls

      Blizzard is *OWNED* by Vivendi from a $10b deal five years ago. Whether Vivendi is well run or not, at some point they. like any stockholder, are going to want some money for what they spent.

      tl;dr – if you don’t want someone to expect dividends, don’t sell your company to them!

      Note that Blizzard’s growth has some impact on this. If you are a high growth company, then shareholders are fine with no dividends they would rather the company invest in itself than paying out dividends. If you are a slow/no growth company (e.g. a utility) then people mostly care about the dividends being paid out.

      • Ravenstorm

        So you claim it’s ok to blood A/B like this?
        But yes, that is what big companies so. They don’t care about anything except money/business.
        Too bad then that A/B couldn’t recover their stock from V.
        When one company owns that much of another’s you can expect these things to happen, sadly.

        • Sally Bowls

          Basically yes.

          There are two questions: does V have the right to do this? Absolutely. Should they? probably

          V has $10B invested in AB stock. How are they going to get value for their stock? Everything in Activision-Blizzard Inc., including the cash, belongs to the shareholders of Activision-Blizzard Inc. 61% of which are Vivendi. If you want to control your destiny; if you want to decide how to spend your money, don’t sell your company. Private companies

          If you think AB can use the cash better than you, you want AB to keep the money and invest it. If I don’t think a company can utilize the cash as well as I can, then I want them to give me the cash as dividends (or stock buy-back.) I.e., if AB had a growth story, if subs were growing and Titan was imminent, then it would make a lot of sense to keep the cash in AB. The reality is that AB does not have a growth story and V could not find someone who wants to buy the stock. AB knew the 5-year agreement was going to expire now and could have bought the stock out. IMO, if AB had done any of those three things differently, they would not be giving up the money now.

          • Cipero

            What? You think AB doesn’t have a growth story? LOL you clearly don’t know what you are talking about. That much is evident by you clearly thinking world of warcraft is Activision’s only franchise.

          • Sally Bowls

            This is not the site for business education but Growth stock is a business term:

            “Definition of ‘Growth Stock’ Shares in a company whose earnings are expected to grow at an above-average rate relative to the market. Also known as a “glamor stock”. A growth stock usually does not pay a dividend, as the company would prefer to reinvest retained earnings in capital projects.”

            Zack’s Investments estimates that ATVI’s earnings for CY2013 is -30%. ATVI absolutely was a growth stock in the past. it may be a growth stock again. It is a quite profitable company that will be around for my lifetime. But it is tough to argue that it is a growth stock at the moment.

          • Cipero

            I think you need to spend a little more time reading. It doesn’t take a genius to comprehend that vivendi is taking extra cash to make up for lousy investments over seas.

            “if AB had a growth story, if subs were growing and Titan was imminent, then it would make a lot of sense to keep the cash in AB. The reality is that AB does not have a growth story and V could not find someone who wants to buy the stock” – Sally Bowls

            Here you suggest that they are taking money out of AB due to AB not being a Growth Stock which shows that you don’t even comprehend why Vivendi is doing this to begin with, which also negates everything you are trying to say about ABs stock. I suggest you look at the hole Vivendi dug themselves into and then maybe you’ll finally understand why they are grasping at whatever money they can find.

          • Dularr

            The amount of misinformation and outright fabrications in your posts are incredible.

            The problems with Vivendi have nothing to do with ActivisionBlizzard. That has everything to do with Vivendi mismanaging their business back in France. Vivendi has gotten themselves into financial problems with really bad debt and now need to squeeze funds out of financially solid companies.

            Attempting to force a special dividend (usually a payment from profits) financed through debt seems to me smacks of unethical if not obscene behavior.

            If the way Vivendi handled the buyout offer for the Universal music group is of any indication. I’m not surprised they had difficulty finding a buyer. ActvisionBlizzard is a large company and not sure how many institutions could pull that off.

      • Dularr

        Acitvision Blizzard is a public traded corporation that is 61% owned my Vivendi.

        Acivision Blizzard is a growth stock, trading in the 15 dollar range, up from a 11 dollar range at the beginning of the year.

        In early 1994 they were acquired by distributor Davidson & Associates for $6.75 million. The cash infusion allowed them to finish development on a little game called “Warcraft: Orcs & Humans.”

        Vivendi acquired Blizzard in 1998 through a fascinating series of corporate transactions.

        Activision Blizzard, founded in 2008. Blizzard contributed 2B dollars and Acivision contributed 1B dollars with Vivendi owning 54%.

        So, you implying Blizzard did this to themselves is factually inaccurate.

  • Ravenstorm

    Vivendi will bankrupt A/B. Indeed they can do it again and again, they will pull a great company under with them, if they go bankrupt themselves.

    • CAM

      Yeah, they will simply take a few billion every year and A/B will have to find a way to cope with that. For us it’ll mean a reduction in content and an increase in store items. This makes me wonder, just how much was Vivendi’s asking price for A/B ? And why are they taking such a large chunk at once instead of simply ordering A/B to get them a yearly 1 billion or so?

      • Ravenstorm

        Indeed, and what does ‘special’ dividends, as said in the article, mean? I’m no lawyer or economy specialist, but does that mean you have normal and special dividends? And what are special dividends? Can they be taken in regression to former years? Is that why A/B has to coph up all that cash?

        I’d say to all the A/B employees: y’all go to Molten Games now, everyone, the founders, the *you name it*, A/B goes Boom*blub* byebye, MG buys A/B for a reduction on the stock cuz of the broke-ness, Vivendi cries and cries but can’t blood MG for ‘special’ dividends, and after some reorganization all that talent can get to work without the sword of Damocles hanging above their heads.

        Now all a ya serious ppl out there, all this is just my big wishing well for those guys out there from A/B who’s lifelyhood is hanging in the balance. I’m not caring about legal issues I just wish a safe haven for all those hardworking ppl in A/B. So don’t go bonkers.

        • Kurt Schafer

          A ‘special dividend’ is a dividend that is announced (and paid) outside the normal dividend cycle which is usually quarterly.

          A company’s board can can declare a special dividend at any time.

          • Ravenstorm

            ah tx, well good thing A/B has bought back most of their shares, no more special dividends anymore.

  • the_rick

    LOL 6 of the 11 board members come from a company $17B in debt. Way to put that degree to work boys.

  • Luke Malcolm

    At this point, I rather Blizzard stick with Activision than Vivendi.

    • John Doe

      Vivendi owns Blizzard and Activision and the funny part is ” Reuters reports that six of the eleven A/B board members are from Vivendi “

      • Kevyne-Shandris

        Which is why if folks did follow what Vivendi put it’s fingers in, how detrimental they are to a gaming company.

        Blizzard was at it’s height when it was an independent studio. Their decisions were their own, and they had to be more weary of not upsetting the apple cart. Not have this arrogance we see today.

  • Shadowvyper

    As I sit here in my business ethics class reading this article during a break. I feel like very powerful important people have skipped the very class I’m sitting in.

    • John Doe

      There is no such thing as business ethics thats a big BS. Business involves two guys making a deal and each of them assumes that the other guy will F. him on the deal so he will do what ever he can to F. the other guy faster and harder that’s your business ethic.

  • Jack Saat

    Yeah this will effect WoW players big time!! Blizzard will take all your money and drain your blood!! That new armor pieces dlc and pets and mounts only were the beginning!! It will get much worst SOE bad!! cash shop in game shity xpack, dlcs all over the place way over priced!! Whatever they can get away with!

    • Austin Carlin

      I can’t tell if you’re serious or being facetious. The exclamation marks are really throwing me off. Kind of reminds me of the 50 year old right wing extremists I’m related to, whenever they make a post on Facebook about politics.

  • Reasor

    Everybody panic and/or gloat!

    • John Doe

      Panic why ?
      I find all this funny.

  • Kurt Schafer

    Well here you go everybody.

    Activision/Blizzard has just inked a deal to SPLIT from Vivendi for approximately 8 billion dollars.

    = K

  • Kevyne-Shandris

    Vivendi is evil.

    Look at the past partnerships it had: Sierra+Monolith and the F.E.A.R. franchise. Boy, they really tried to milk that title. So when the expansions flopped, and Monolith tried to revigorate the title (after the expansions ruined canon and more) it was too late.

    Sierra (one of the last old game houses) folded, too.

    So, cut the loses and let’s get a Blizzard back that interested in building games gamers want to play.

    It’s World of WarCRAFT, not World of FacelessPointmen.